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US Congressman Ted Cruz: Bitcoin improves the global economy and ecology

The American senator, against the background of the global persecution of traditional PoW mining, believes that Bitcoin improves the standard of living of society, and this has a beneficial effect on the environment.

Representative of the US Republican Party, Ted Cruz, during a speech at the Texas Blockchain Summit, said that bitcoin mining ensures the prosperity of society, which, in turn, benefits the environment.

“If you look at the environment, pollution is directly related to poverty. The poorer the society, the more dirty energy it produces. If you drive a brand new Tesla, it’s great for the environment. But if you don’t have the money to afford it, you can’t help the environment,” explains the Republican congressman.

According to the speaker, even the Texas Blockchain Summit in Austin, which brought together many entrepreneurs, contributes to environmental protection. Since the gathered businessmen are able to increase the standard of living of society and, accordingly, the ecological situation in the world

Ted Cruz insists that mining cryptoassets is good for the environment, as it stimulates the production of renewable energy and uses energy that would otherwise be unused:

“Cryptocurrency is a net plus for the environment. Being able to unlock a lot of renewable sources is really important for the environment. I think the ability to take an abandoned source of natural gas and use it for production is a big plus for the environment.”

The Republican senator claims that bitcoin mining helps in regulating and optimizing the distribution of electricity. The ability of Bitcoin miners to quickly turn on and off the equipment is invaluable at the moment when there is a shortage of electricity or its excess. When energy production capacity is reduced, there is an opportunity to instantly move the surplus to the needy consumer, the congressman insists.

Recently, the House Committee on Energy and Commerce of the US Congress began to study the impact of large mining companies on energy and climate.

Source: Bits

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